Flutter Entertainment has announced that it will remove its ordinary shares from the London Stock Exchange (LSE) effective August 3, 2026, with the last trading day set for July 31, 2026.
The parent company of FanDuel will continue its trading activities on the New York Stock Exchange (NYSE) under the ticker symbol FLUT. Flutter has submitted a request to the Financial Conduct Authority (FCA) to terminate its listing on the Official List and has asked the LSE to withdraw its shares from the main market. According to current FCA regulations, shareholder approval is not necessary if specific regulatory criteria are fulfilled, although a minimum of 20 business days' notice is required before the delisting occurs.
This decision follows a review of Flutter's listing strategy, which was initially mentioned in its Q1 results report on May 7. The company pointed to consistently low trading volumes in London, along with the costs and administrative burdens associated with maintaining a dual listing. Management stated that this action is in the “best interests of the company and its shareholders.”
As a result of the delisting, investors trading Flutter shares in London will need to transition to the NYSE once the delisting is finalized. While brokers and custodians generally accommodate cross-listed securities, the changes in execution and custody arrangements could impact liquidity and trading expenses, particularly for smaller retail investors in the UK.
In the first quarter of 2026, Flutter reported revenues of $4.3 billion, with the US market accounting for approximately 42% of its sales. FanDuel commands a significant 39% share of the US betting market. Flutter initially listed on the NYSE in January 2024, subsequently making it the group's primary listing.
When the NYSE listing was announced, CEO Peter Jackson remarked, “We believe a US primary listing is the natural home for Flutter given FanDuel’s number one position in the US, a market which we expect to contribute the largest proportion of profits in the near future.”
This move comes amid ongoing challenges for UK markets, as companies continue to shift their listings or reduce their presence in London. In 2024 alone, up to 88 companies delisted or moved their primary listings away from the LSE. Data from Bloomberg indicated that London ranked 20th globally for initial public offerings that year, with only 18 companies going public.
Ivor Jones, an equity analyst at Peel Hunt, noted last year that “the UK is a small market and a small share of total equity value, which has exerted pressure on valuations.” He further commented that UK investors have been attracted to higher interest rates for cash investments or have faced increased mortgage costs, leading to a trend of selling UK equities in favor of other options, resulting in a steady outflow.
Flutter's stock has experienced a nearly 60% decline over the past year, with losses intensifying since the beginning of 2026. Recently, FanDuel parted ways with its former CEO Amy Howe, with Jackson indicating it was the “right moment for new leadership.”